Source: Ludwig von Mises Institute
by Kevin Duffy
“No, the economy is not booming. Far from it. Last month, the Conference Board Consumer Confidence Index hit its lowest level since 2014. The monthly ISM manufacturing index registered ten consecutive months of contraction through December. On February 5, the Challenger Report on the US labor market showed announced job cuts in January more than doubled year-over-year, ‘hitting their highest level since the 2009 Great Recession,’ according to Mohamed El-Erian, former CEO of Pimco. … How do we square vigorous GDP statistics with an economy clearly deteriorating?” (02/20/26)
https://mises.org/power-market/gdp-illusion-surging-statistics-hide-pain-average-americans